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analyze the effects of less restrictive policies, including merger remedies and the tax treatment of acquisitions and initial …
Persistent link: https://www.econbiz.de/10012584096
This paper provides a theory of strategic innovation project choice by incumbents and start-ups. We show that prohibiting killer acquisitions strictly reduces the variety of innovation projects. By contrast, we find that prohibiting other acquisitions only has a weakly negative innovation...
Persistent link: https://www.econbiz.de/10012263689
further analyze the effects of less restrictive policies, including merger remedies and the tax treatment of acquisitions and …
Persistent link: https://www.econbiz.de/10012656045
Double moral hazard problems are prevalent in merger remedies. We consider a holdup problem in which two merging … merger decision depends on the success of the transaction, the Competition Authority will clear the merger whenever the …
Persistent link: https://www.econbiz.de/10012779638
FinTech companies and FinTech mergers are increasingly prevalent over the past decades. This paper explores the motives … and consequences of FinTech mergers. FinTech firms have a greater likelihood of becoming targets in mergers and … acquisitions (M&As). FinTech mergers increase the valuation of combined firms by 2.15%, and such value creation is significantly …
Persistent link: https://www.econbiz.de/10013301485
This paper provides a theory of strategic innovation project choice by incumbents and start-ups. We show that prohibiting killer acquisitions strictly reduces the variety of innovation projects. By contrast, we find that prohibiting other acquisitions only has a weakly negative innovation...
Persistent link: https://www.econbiz.de/10013330715
The paper presents the theoretical framework explaining the primary cause of mergers of the service-oriented firms …. Using the example of equity analyst firms, I analyze the motivation behind these mergers. The analysis is not limited to the … acquired over the years. I propose that service firms can benefit from the mergers when they expect the performance of its long …
Persistent link: https://www.econbiz.de/10013309427
, including merger remedies and the tax treatment of acquisitions and initial public offerings. Such interventions tend to prevent …
Persistent link: https://www.econbiz.de/10014308004
's stand-alone value and a component of the synergies that would be realized by the merger involving his firm. We characterize …, hence transfers can be made contingent on the new information accruing after the merger. Second, we study the case of … identify necessary and sufficient conditions for the implementability of efficient merger rules. In the second case, we show …
Persistent link: https://www.econbiz.de/10014073457
many industries around the world since the 1980s. Two major criticisms of these studies is that concentration and market … use a novel database that identifies over 20,000 product/geographic antitrust markets affected by over 2,000 mergers … scrutinized by the European Commission between 1995 and 2014. We show that concentration, as measured by the market-specific post-merger …
Persistent link: https://www.econbiz.de/10012421242